Latest market data

Stock search

The disruptive industry shaker isn’t always the one with the
biggest bells and whistles. Instead, the successful first-mover
knows that having an idea is one thing, executing it is another,
and sustaining that idea -- 10 to 20 years later -- is something
else entirely.

When I had my first “big idea,” it was 1989. I had been working
with the U.S. Postal Service as an independent consultant and had
been tasked with creating a laser-printed envelope that included
the then-new POSTNET routing barcode, the destination address and
an eagle logo that served as a postage stamp.

That’s when this little gem of an idea hit me: if the Postal
Service could print postage directly on an “official government”
envelope with a PC and printer, then why couldn’t an ordinary
business person? It seemed simple enough and was sure to save
people time because they wouldn’t have to drive to the post
office. So I filed a patent for PC Postage in 1991.

Our patent was issued in 1995 and 15 years later, Endicia would
comprise 60 percent of the PC postage printed in the United
States alone. Newell Rubbermaid acquired our venture in 2007 and
by 2013, our customers would print a cumulative total of more
than $10 billion in postage -- largely because we recognized that
the real value proposition was in printing shipping labels -- not
envelopes.

It’s been a long road since that first idea, and I’ve learned a
few things along the way -- mainly, that being a successful
first-mover requires planning, flexibility and a particular
mindset. So for all those brilliant disruptors ready to take on
the status quo, here are five things you can do to ensure your
success.

1.Keep the faith. If you have
a truly unique and disruptive idea, the majority of people won’t
understand it -- at least not right away. Expect blank stares and
patronizing glances, but at the same time, make sure to touch
base with people and share your idea. This is what will help
determine whether your business is viable.

Keeping your mind balanced between big dreamer and pragmatist is
one of the toughest aspects of being an innovator. It requires
maintaining confidence while making sure you are seeing reality
correctly. The ultimate goal is to find a handful of people that
believe in your idea as much as you do.

2.Take smart risks. When I
decided to pursue the idea for PC postage, I didn’t stop
everything I was doing to focus solely on one business. Instead,
I kept a couple irons in the fire.

I continued my consulting practice with the U.S. Postal Service
and other agencies, and this ended up being Endicia’s saving
grace.

It is absolutely pivotal when executing an idea to make sure you
have a baseline system for survival. Then use your spare energy
to build and evolve your business until it’s established. Once
viable, you can take away that baseline and run your new business
full-time.

3.Prepare yourself to work like a
dog. Remember, having an idea is just the start: you’ve
got to bake it, refine it and show it to people. In my case, I
like to prototype ideas so people can get a better understanding
of what I’m trying to do.

Endicia had a small team that was dedicated and super passionate
about what we were doing. We’d go into four-hour-long demos with
the Postal Service and come out buzzing with a dozen new fixes
and add-ons. Being innovative means always going back to the
drawing board.

4.Expect others to reach for your
lunch. At the time of Endicia’s founding, there were a
number of companies entering the PC postage space, and since this
was during the Dot-com Boom, many were backed by VC funding.

It was hard watching these flashy startups enter what we thought
of as our arena – after all, we had been working with
the Postal Service since the early ’80s. But we held our tongue
and bided our time. Though we were self-funded and didn’t have a
lot of money to burn, we were also careful in making sure we had
enough income to cover our expenses.

In the end, it paid off. We emerged as the leading postage
producer, and we didn’t burn through our money the way some of
our competitors did.

I remember being at a trade show and observing three distinct
aspects of postage, shipping and tracking. It made me start
thinking about iterations that could work for the shipping
industry. What resulted was the first integrated shipping label
with address, postage and tracking all in one -- and customers
went nuts over it. Later, in the mid-2000s, we began to see
growth in the shipping market, so we made the decision to
re-focus our business model on the e-commerce shipping market
instead of mailing.

Being able to keep an eye out, keep active and keep inventing is
what has helped us remain a chief contender in PC postage more
than 20 years after its inception.

While it may seem tempting to get swept up in your big idea,
experience shows that there are benefits to staying grounded.
Make sure to pace yourself and play smart -- but in the end, it’s
passion and strength of conviction that will set you apart.